Syon Capital LLC Cuts Stake in STMicroelectronics (NYSE:STM)

Syon Capital LLC lessened its holdings in STMicroelectronics (NYSE:STM) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,237 shares of the semiconductor producer’s stock after selling 354 shares during the quarter. Syon Capital LLC’s holdings in STMicroelectronics were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. increased its holdings in shares of STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after buying an additional 499 shares during the period. Huntington National Bank grew its position in STMicroelectronics by 112.7% during the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 365 shares during the last quarter. Headlands Technologies LLC purchased a new position in STMicroelectronics in the 3rd quarter worth approximately $30,000. Spire Wealth Management lifted its position in STMicroelectronics by 125.0% in the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of STMicroelectronics during the fourth quarter valued at approximately $40,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on STM. HSBC initiated coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a report on Friday. Susquehanna restated a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Finally, Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Stock Performance

STMicroelectronics stock opened at $41.33 on Friday. STMicroelectronics has a fifty-two week low of $37.21 and a fifty-two week high of $55.85. The stock’s 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $44.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17. The stock has a market cap of $37.31 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.76 and a beta of 1.69.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 23.52%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, analysts expect that STMicroelectronics will post 2.74 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 25th. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. STMicroelectronics’s dividend payout ratio is currently 5.13%.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.